China Biologic Announces Changes in Directors
China Biologic Products, Inc. (NASDAQ: CBPO) today announced two changes in its board of directors.
On October 6, 2011, Dr. Xiangmin Cui resigned from his positions as a director of China Biologic, a member of the Audit Committee, the Compensation Committee, and the Governance and Nominating Committee, and as Chairman of the Compensation Committee, effective immediately. Mr. Cui's resignation was due to personal reasons and not because of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices. Dr. Cui will serve as an independent consultant for the Company.
On October 6, 2011, the Company's board of directors appointed Mr. David (Xiaoying) Gao, age 61, as a director of the Company, a member of the Audit Committee, the Compensation Committee, and the Governance and Nominating Committee, and as the Chairman of the Compensation Committee, effective immediately, to fill the vacancies resulting from Mr. Cui's resignation.
Mr. Chao Ming Zhao, Chief Executive Officer of China Biologic, said, "We understand Xiangmin's desire to reduce the breadth of his workload with our company. He has been an extraordinarily valuable contributor and industry expert on our board. He will continue to provide support to us as an advisor.
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